CDW Co. (NASDAQ:CDW) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its holdings in CDW Co. (NASDAQ:CDW) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,688 shares of the information technology services provider’s stock after selling 3,105 shares during the quarter. Gateway Investment Advisers LLC owned 0.09% of CDW worth $21,005,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oddo BHF Asset Management Sas acquired a new stake in CDW during the 3rd quarter worth about $1,629,000. Franklin Resources Inc. boosted its stake in shares of CDW by 3.4% in the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after buying an additional 3,567 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in CDW during the third quarter worth about $12,761,000. Diversified Trust Co purchased a new position in CDW during the fourth quarter valued at approximately $1,529,000. Finally, Thrivent Financial for Lutherans lifted its holdings in CDW by 12.8% in the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after acquiring an additional 68,023 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $187.79 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The company has a market cap of $25.02 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01. The stock’s 50 day simple moving average is $179.35 and its 200-day simple moving average is $205.58.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is currently 30.56%.

Analysts Set New Price Targets

CDW has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Morgan Stanley upped their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $239.33.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.